Could be/Is used as something to store one or more dead niggers within.

Example 1:
Person 1 - Hey man, you got some storage?
Person 2 - Did you see a sign on the front of my house that says "dead nigger storage"?!

Example 2:
Jimmy - When you came pulling in here, did you notice a sign on my house that said "dead nigger storage?
Jules - Man Jimmy, you know we didn't see no shit...
Jimmy - Did you notice a sign on my house that said "dead nigger storage?!
Jules - No, I didn't.
Jimmy - Do you know why you didn't see that sign?
Jules - Why?
Jimmy - Cause it ain't there, cause storing dead niggers ain't my fucking business!!! That's why!

a descriptive word that means awesome, toothsome, amazing, and totally bad apple. when referring to something as storage, be sure not to create a situation where the listener thinks that something is being described as a vessel. one should never refer to a woman as "storage".

tim: young blood, did you catch the community episode last night?
jim: oh no doubt, that school is so storage, i wish i went there.